If your IT Team has been caught napping when the virtualization, cloud and now SaaS wave is sweeping, I would say its your fault. Sorry for being harsh.
The main value I see about the cloud is accessibility of data. Virtualization and public clouds are an enabler for SaaS. You now have more ways to access it as your data has left the "sacred corporate premises".
Previously IT Team would harp about security and prevent any form of access from outside. However that stiffled innovation and productivity of the employees.
If you had ensured your business critical functions (applications) were made more accessible, maybe with lesser rules, using other technologies, the up take of SaaS could have slowed down. This could have given the IT Team more headaches. But headaches create work :-)
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